AUDUSD Potential Bullish Bias | 0.66500 Support + USD Weakness!Hey Traders,
In today’s trading session, we are closely monitoring AUDUSD for a potential buying opportunity around the 0.66500 zone. AUDUSD remains in a well-established uptrend and is currently experiencing a healthy corrective pullback, approaching a key trendline confluence and the 0.66500 support & resistance zone, which may act as a strong demand area for bullish continuation.
From a fundamental perspective, increasing expectations of a potential interest rate cut at the upcoming FOMC meeting continue to weigh on the US Dollar. Ongoing USD weakness typically supports risk-sensitive currencies such as the Australian Dollar, further strengthening the bullish bias on AUDUSD.
As always, wait for confirmation before entry and manage risk responsibly.
Trade safe,
Joe.
